• Mysk Kingfisher Retreat, Sharjah. Courtesy Mysk Hotels.
    Mysk Kingfisher Retreat, Sharjah. Courtesy Mysk Hotels.
  • Qasr Al Sarab Desert Resort by Anantara, Abu Dhabi.
    Qasr Al Sarab Desert Resort by Anantara, Abu Dhabi.
  • A luxury villa stay at Ritz-Carlton, Ras Al Khaimah, Al Hamra Beach. Courtesy Ritz-Carlton
    A luxury villa stay at Ritz-Carlton, Ras Al Khaimah, Al Hamra Beach. Courtesy Ritz-Carlton
  • Four Seasons Resort Dubai at Jumeirah Beach, Dubai.
    Four Seasons Resort Dubai at Jumeirah Beach, Dubai.
  • Zaya Nurai Island in Abu Dhabi offers private island vibes. Courtesy Zaya Nurai
    Zaya Nurai Island in Abu Dhabi offers private island vibes. Courtesy Zaya Nurai
  • Armani Dubai has a UAE National Day staycation offer that includes free concert tickets and access to Dubai Aquarium. Jeff Topping / The National
    Armani Dubai has a UAE National Day staycation offer that includes free concert tickets and access to Dubai Aquarium. Jeff Topping / The National
  • Al Maha Desert Resort, Dubai.
    Al Maha Desert Resort, Dubai.

7 super luxury staycations you can still book this National Day in Dubai, Abu Dhabi, Sharjah and Ras Al Khaimah


Hayley Skirka
  • English
  • Arabic

The UAE National Day holidays are almost here and with both public and private sectors set to enjoy five days off, lots of people are thinking of taking a staycation.

For some people, this might be the first staycation they've enjoyed this year and domestic hotel stays are most certainly replacing what would normally be a holiday period for many citizens and residents who are opting not to travel overseas due owing to the ongoing global pandemic.

If you want to make sure your National Day holiday offers something special, and are not restrained by budget, these seven staycations offer a little slice of luxury over the upcoming holidays and are all still available to book last-minute.

Note: If you're looking for something more budget-focused, you'll find bargain staycations here, all-inclusive stays here and a bumper list of National Day hotel offers here.

Mysk Kingfisher Resort, Sharjah: Tented escapes from Dh4,500

Escape the city and indulge in nature this public holiday with a reservation at Mysk Kingfisher Retreat. Located on the east coast of Sharjah, the resort is typically reached by private boat – but ongoing works in Kalba have temporarily halted this. Not to worry, guests can take Rugaylat road instead, where the journey to the resort is well signposted to ensure everyone arrives effortlessly at this little haven of coastal luxury.

Bed down in a one-bedroom luxury tent where you'll have 139 square metres of space, including an outdoor deck – the perfect place to watch the sunset. Each tent sleeps two adults and one child and comes with a king-size bed, private pool and outdoor shower cabin, not to mention amazing views over the Gulf of Oman. Days can be spent kayaking through the mangroves, diving with sea turtles, stand-up paddleboarding or tackling the nearby Watchtowers Trek.

National Day holiday rates start from Dh4,500 per night, excluding taxes. This includes breakfast, lunch and dinner. Mysk Kingfisher Resort, Corniche Road, Sharjah; myskhotels.com

Qasr Al Sarab Desert Resort by Anantara: Family villas from Dh10,000

Qasr Al Sarab Resort by Anantara.
Qasr Al Sarab Resort by Anantara.

If it's a desert escape you seek, Qasr Al Sarab by Anantara is one of the best. Getting to this Arabian fortress is an adventure in itself. It's reached via a private road that drifts over uninterrupted orange dunes and through a fortress-like entrance, all before you even arrive at the hotel. Nestled deep in the Rub Al Khali desert, the resort is a favourite with visiting celebrities, most recently hosting the cast of Dune.

Expect breathtaking landscapes: every room, suite and villa comes with sunset views. The hotel offers desert activities including a sunrise camel trek, sandboarding and a meet the Salukis and falcon session. Wind down at the newly renovated swimming pool, zoned to ensure families, couples and groups all get the type of pool day they desire.

While the deluxe garden rooms on the ground floor of the hotel are the best value for money, if you're looking for something truly special, book one of the Anantara Family Pool Villas. Each offers Arabic decor and access to a large garden area complete with a swimming pool, sundeck, al fresco dining area and an outdoor shower. You'll also be allocated a private butler who will be on hand to take care of your every need.

Rates over the National Day holidays start from Dh2,022 including breakfast and taxes in a deluxe garden room. The two-bedroom Anantara Family Pool Villas start from Dh10,050; Qasr Al Sarab Desert Resort, Al Mirayr, Abu Dhabi; anantara.com

The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach: A private staycation from Dh8,751

Escape to the brand new Al Shamal Ocean View Villa at The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach. Courtesy Ritz-Carlton
Escape to the brand new Al Shamal Ocean View Villa at The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach. Courtesy Ritz-Carlton

The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach has a brand-new residence that is now open to guests seeking an extra exclusive stay. The Al Shamal Ocean View Villa is a private residence spread across 193 square metres, offering a truly private hideaway for two people. With a sundeck overlooking the ocean and a private swimming pool, the villa also has access to a private garden complete with a personal cabana. Special activities have been curated for guests staying at Al Shamal Ocean View Villa, including a breakfast picnic overlooking the ocean or a barbecue on the beach catered by the hotel’s culinary team.

This National Day, guest can take advantage of the opening offer, which includes in-villa breakfast, a choice of a 60-minute massage for two and daily sunset drinks. Guests also have full access to facilities across The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach, including destination dining, and ocean-inspired spa treatments.

Rates from Dh8,751.44 including taxes; The Ritz-Carlton Ras Al Khaimah, Al Hamra Beach, Ras Al Khaimah; ritzcarlton.com

Four Seasons Resort Dubai at Jumeirah Beach: Sea view stays from Dh6,011

Four Seasons Resort Dubai at Jumeirah Beach. Courtesy Four Seasons
Four Seasons Resort Dubai at Jumeirah Beach. Courtesy Four Seasons

As part of one of the world’s most luxurious hotel brands, the Four Seasons Resort Dubai at Jumeirah Beach promises a staycation filled with indulgence. Guests can enjoy three swimming pools and a 270-metre private beach, coupled with beautifully manicured gardens and excellent dining experiences such as Sea Fu and Suq, or the nearby Coya, Nusr-Et Steakhouse or Scalini.

The hotel's deluxe city rooms offer the best value for money, but it's worth pointing out that they’re located on the lower floors of the hotel and overlook the city rather than the shoreline. If you want a sea view – even a partial one – book the Deluxe Partial Sea-View rooms. Also located on the lower floors, these spacious rooms span 70 square metres and boast vistas over the resort gardens and the Arabian Gulf. There’s a large garden balcony to make the most of the views which comes with a daybed – perfect for an afternoon nap.

Deluxe City Room rates over National Day start from Dh5,091.50, partial sea view rooms cost from Dh6,011, both including breakfast and taxes. Four Seasons Resort Dubai at Jumeirah Beach, Jumeirah Street, Dubai; fourseasons.com

Zaya Nurai Island, Abu Dhabi: An island escape from Dh6,300

It might only be a 15-minute boat ride from Abu Dhabi's mainland, but the Zaya Nurai Island resort guarantees the feeling that you've escaped the city for more tropical climes. This boutique private island paradise offers an all-villa resort designed to reflect the surrounding natural environment.

Each comes with its own 25-metre private pool and sundeck, access to a private beach and a chic loft-style living room. The resort also offers two sparkling infinity pools, which guests can access via complimentary buggy rides. Shoreside, you can expect chic bamboo umbrellas and Balinese-inspired sea swings, coupled with truly unspoilt views of the Arabian Gulf.

Room only rates over the National Day holidays start from Dh6,300 per night for two people, excluding taxes. Zaya Nurai Island, Abu Dhabi; zayanuraiisland.com

Armani Hotel Dubai: Complimentary concerts from Dh2,250

Why not spend National Day at the world's tallest building, The Burj Khalifa? Armani Hotel Dubai is running a special offer to celebrate the UAE turning 49 and it's jam-packed with things to see and do. As well as complimentary access to Dubai Aquarium & Underwater Zoo and the VR Park at The Dubai Mall, guests will also get daily breakfast at the Armani/Mediterraneo restaurant and Dh200 credit to spend across the hotel.

Stay in an Armani Premiere Suite, each of which was personally designed by Giorgio Armani, and has large walk-in closets, a living room area, bedroom and spa bathroom. The staycation offer also comes with free tickets to the Burj Park Concerts set to feature Balqees and Mohamed Al Shehhi on Wednesday, December 2, and Eida Al Menhali and Shamma Hamdan on Thursday, December 3. Complimentary activities and the status of bedding down in the Burj Khalifa considered, this one is decent value for money.

Rates start from Dh2,250, plus taxes and including breakfast; Armani Hotel Dubai, Burj Khalifa, Dubai; armanihoteldubai.com

Al Maha, a Luxury Collection Desert Resort & Spa, Dubai: Serenity from Dh7,064

Despite fierce competition, Al Maha, a Luxury Collection Desert Resort & Spa, Dubai is perhaps one of the emirate's best retreats. Part of the protected Dubai Desert Conservation Reserve, this place guarantees privacy, luxury and the chance to reconnect with nature. As well as endless desert dunes, the reserve has beautiful oases filled with lush palm trees where gazelle, sand cats and Arabian red foxes can be spotted.

There are plenty of desert activities on offer, including falconry displays and night wildlife drives. All villas come with their own private pool and terrace areas, and the options for in-suite dining are as varied as the hotel's restaurants. Over National Day, you can book a stay that comes inclusive of two desert activities, daily lunch, breakfast and dinner as well as Dh200 hotel credit per night.

Rates in a one-bedroom Bedouin Suite start from Dh7,064 including breakfast and taxes; Al Maha, a Luxury Collection Desert Resort & Spa, Dubai, Dubai Desert Conservation Reserve, al-maha.com

Sheer grandeur

The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.

A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Tips to keep your car cool
  • Place a sun reflector in your windshield when not driving
  • Park in shaded or covered areas
  • Add tint to windows
  • Wrap your car to change the exterior colour
  • Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
  • Avoid leather interiors as these absorb more heat
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company%20Profile
%3Cp%3ECompany%20name%3A%20EduPloyment%3Cbr%3EDate%20started%3A%20March%202020%3Cbr%3ECo-Founders%3A%20Mazen%20Omair%20and%20Rana%20Batterjee%3Cbr%3EBase%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Recruitment%3Cbr%3ESize%3A%2030%20employees%3Cbr%3EInvestment%20stage%3A%20Pre-Seed%3Cbr%3EInvestors%3A%20Angel%20investors%20(investment%20amount%20undisclosed)%3C%2Fp%3E%0A
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Napoleon
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Ridley%20Scott%3Cbr%3E%3Cstrong%3EStars%3C%2Fstrong%3E%3A%20Joaquin%20Phoenix%2C%20Vanessa%20Kirby%2C%20Tahar%20Rahim%3Cbr%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%202%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

SPIDER-MAN%3A%20ACROSS%20THE%20SPIDER-VERSE
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SUNDAY'S ABU DHABI T10 MATCHES

Northern Warriors v Team Abu Dhabi, 3.30pm
Bangla Tigers v Karnataka Tuskers, 5.45pm
Qalandars v Maratha Arabians, 8pm

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

Tailors and retailers miss out on back-to-school rush

Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag
MATCH INFO

New Zealand 176-8 (20 ovs)

England 155 (19.5 ovs)

New Zealand win by 21 runs

Race card

6.30pm: Al Maktoum Challenge Round-3 Group 1 (PA) US$100,000 (Dirt) 2,000m

7.05pm: Meydan Classic Listed (TB) $175,000 (Turf) 1,600m

7.40pm: Handicap (TB) $135,000 (T) 2,000m

8.15pm: Handicap (TB) $135,000 (D) 1,600m

8.50pm: Nad Al Sheba Trophy Group 2 (TB) $300,000 (T) 2,810m

9.25pm: Curlin Stakes Listed (TB) $175,000 (D) 2,000m

10pm: Handicap (TB) $135,000 (T) 2,000m

10.35pm: Handicap (TB) $175,000 (T) 1,400m

The National selections

6.30pm: Shahm, 7.05pm: Well Of Wisdom, 7.40pm: Lucius Tiberius, 8.15pm: Captain Von Trapp, 8.50pm: Secret Advisor, 9.25pm: George Villiers, 10pm: American Graffiti, 10.35pm: On The Warpath

GROUP RESULTS

Group A
Results

Ireland beat UAE by 226 runs
West Indies beat Netherlands by 54 runs

Group B
Results

Zimbabwe tied with Scotland
Nepal beat Hong Kong by five wickets

England ODI squad

Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

The years Ramadan fell in May

1987

1954

1921

1888